Roger Ver, Bitcoin Cash promoter stated that Bitcoin community possessed “insane idea” that network congestion and high fees was beneficial. In a recent interview with CNBC, Ver has mentioned about the hike in valuation of Bitcoin in December. He has given a reassurance to the holders of Bitcoin Cash and has mentioned about the outcomes of the forthcoming hard fork.

The Interview

Ver has clarified that he does not envision Bitcoin to reach a point where money can be substituted with it. In the context of diversifying his portfolio since network congestion and high fees motivated him, he went on to say, “99% of my cryptocurrency holdings were in Bitcoin, and it was when I saw these people talk[ing] about how high fees are a good thing, that inspired me to diversify into a bunch of other cryptocurrencies at the time, I did that.”

He mentioned that Bitcoin holds majority portion of the market which has exceeded 90%. He has commented, “I think it’s going to continue to go lower because they’re openly cheering for high fees and slow transactions. Bitcoin’s B2C [Business to Consumer] network which is just insane to anybody that realizes that cryptocurrencies are supposed to be usable as a currency. Currencies don’t have high fees and slow transactions.”

During the interview procedure, he was asked if politics make him rethink about his investment in Bitcoin Cash. He has explained that unanimously they are striving to attain a state of consensus, and simultaneously compares to Washington DC. While elucidating the difference, he stated, “We have disagreements and ultimately you come together but the difference here is you can split off and you can have a fork so you know it is a concern. If they can resolve it at this meeting then that actually would be positive.”

On the forthcoming hard fork pertaining to Bitcoin Cash, he has stated, “A bunch of the Bitcoin cash miners are flying out to Bangkok in about 24 hours. We’re all going to sit down in person and talk about exactly what we think as miners should be the future for this and I think things will probably be settled by that.”